Good day!

The Russian ruble is approaching the 69.80 resistance level against the drop in oil prices. So far, the currency pair might reach a very strong psychological level of 70.00 and head even further:

There is a broken downtrend in the weekly chart of currency pair EUR/USD. A true breakout is not quite there yet, but it may happen anytime soon. Let’s check what’s up with the lower time frame:

In the daily chart, we should rely on the pullback from the broken trend. It’s not yet clear whether the 1.1240 level will support the asset’s price and form a bullish flag before the continuation of an ascending move. The currency pair might also jump:

The reports by COT CFTC show that large operators quickly decreased their short positions on single currency. It might evoke the growth of the currency pair EUR/USD and serve as an additional signal for the development of situation further on the charts above:

The British pound remains in a small range while other currencies want to retest the broken trend, therefore the asset might want to pull back from this trend quite soon:

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Share this post: